All week, 24/7 Wall St. reports on the top analysts’ research calls from the major brokerage firms and banks that we cover, both inside and outside the United States. We provide details on many of the hundreds of various stock upgrades and downgrades, in addition to resumptions and initiations of coverage.
Research analysts typically provide an in-depth look into everything from a company’s business silo and products to balance sheet and financials, while raising, lowering or maintaining their specific price target. This week we found five top companies on which Wall Street analysts are absolutely pounding the table, and they make sense for equity investors looking for fresh ideas for their stock portfolios.
It is important to remember that many times analysts are providing coverage on companies that their firms’ investment banking teams have provided services for. So while usually very fair, it is part of the equation. It is also important to remember that no single analyst report should be used as a sole basis for any buying or selling decision.
Here are five stocks that Wall Street loved this week.
Advanced Micro Devices Inc. (NASDAQ: AMD): Daiwa Securities upgraded the semiconductor giant to Buy from Outperform this week and lifted the price target to $150 from $140. Bernstein raised its Market Perform rating to Outperform with a $150 target price, and earlier in the month Jefferies reiterated a Buy rating and lifted its $140 price objective to $155. The consensus price target is $153.59. The stock was traded at $120.05 late morning Friday.
Amgen Inc. (NASDAQ: AMGN): Jefferies reiterated a Buy rating on the biotechnology giant this week and lifted the target price to $280 from $266. Barclays kept an Equal Weight call raised the target price to $233 from $228. Oppenheimer maintained an Outperform rating and boosted its $272 target price to $285. That compares with a $247.28 consensus target. Shares were changing hands on Friday for $226.70.
Datadog Inc. (NASDAQ: DDOG): Goldman Sachs upgraded the stock to Buy from Neutral, while Morgan Stanley has an Overweight rating and a $210 target price. Truist Securities has a Buy rating and recently lifted its price objective to $225 from $200. The shares have traded in a 52-week range of $69.73 to $199.68 and have a $213.15 consensus target. The stock was trading near $158 on Friday.
Hub Group Inc. (NASDAQ: HUBG): UBS reiterated a Buy rating on the stock and nudged up the target price to $93 from $90. Cowen kept an Outperform rating and lifted its $90 target price to $115. Wells Fargo maintained an Overweight rating, and its price target increased from $96 to $100. The consensus target is $96.36. The company posted outstanding earnings this week, and the shares were trading at $80.80 on Friday.
Tesla Inc. (NASDAQ: TSLA): Though Daiwa Securities upgraded shares of the electric vehicle heavyweight to Outperform from Neutral, it also lowered the target price to $900 from $980. Morgan Stanley recently reiterated a Buy rating and has a massive $1,300 price target. Meanwhile, Piper Sandler reiterated its Overweight rating and boosted its $1,300 target price to $1,350. The consensus target is $962.94. The shares were trading at $802.00 on Friday.
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